Y Combinator-backed Rulebase wants to be the AI coworker for fintech
Y Combinator-alum Rulebase is betting that the next wave of automation in financial services will be the unglamorous tasks.
Microsoft and Uber alum raises $3M for YC-backed Munify, a neobank for the Egyptian diaspora
Khalid Ashmawy found it hard to send money home while studying in Europe. Now, he’s launched a startup to help other Egyptians with the same problem.
Nigerian profitable food delivery Chowdeck lands $9M from Novastar, Y Combinator
Chowdeck, a Lagos-based food delivery startup that has stayed profitable in a notoriously tough and low-margin market, has raised $9 million in Series A funding to launch a quick commerce strategy and expand into more cities in Nigeria and Ghana. The e…
Moroccan founder raises $4.2M for her YC-backed startup building the next layer of AI search
ZeroEntropy is serving up retrieval-augmented generation (RAG) through an API. It’s landed Initialized, a16z Scout and a long list of angels, as investors.
Better Auth, an authentication tool by a self-taught Ethiopian dev, raises $5M from Peak XV, YC
Better Auth offers an open source framework that promises to simplify how developers manage user authentication, and it’s caught the attention of some big name investors. It recently raised about $5 million in seed funding from Peak XV.
After raising $38M, African e-commerce startup Sabi lays off 20%, pivots to traceable exports
African B2B e-commerce startup Sabi has laid off around 20% of its workforce (~50 employees) as it pivots from its original retail-focused platform to double down on a growing business in commodity exports. The layoffs, confirmed by the company on Thur…
Stripe’s former growth lead helps African diaspora invest in startups, real estate
When Joe Kinvi joined Touchtech Payments in 2017 as head of finance, the Irish startup couldn’t afford his full salary. So he negotiated for stock to make up the difference. Eighteen months later, Stripe acquired the company, and that equity converted …
Profitable African fintech PalmPay is in talks to raise as much as $100M
PalmPay, an African digital bank fintech, is in talks to raise between $50 million and $100 million in a Series B round, according to multiple sources familiar with the matter. It’s unclear what valuation it hopes to get, but its last round, in 2…
Sylndr, with fresh $15.7M, allows users to buy, sell, finance, and service used cars in Egypt
Cairo-based Sylndr has raised $15.7 million as it expands beyond online used car sales into auto financing, servicing, and tools for dealers. The round was led by Development Partners International’s Nclude Fund and included follow-on investments from …
Egypt’s Nawy, the largest proptech in Africa, raises $52M to take on MENA
For decades, buying property in Egypt meant navigating a fragmented real estate market, relying on personal networks, dealing with commission-driven brokers, and facing developers more focused on selling than serving customer needs. In 2019, Mostafa El…
OmniRetail shakes up Africa’s B2B e-commerce market with $20M Series A
When Deepankar Rustagi last raised money for OmniRetail in 2022, excitement was high for African startups addressing the supply chain and operational challenges in the fast-moving consumer goods (FMCG) sector. At one point, these startups received more…
Visa-backed African unicorn Moniepoint tackles remittances. But is it late to the game?
When Visa invested in Nigerian fintech Moniepoint earlier this year, it didn’t just validate the newly minted unicorn — it signaled a bold new direction. As part of that deal, the Nigerian fintech best known for building one of Africa’s largest busines…
Y Combinator neobank Djamo raises $17M with 1M users across Francophone Africa
Djamo is one of several digital banking startups targeting Africa’s underbanked. But unlike many that focus on large markets like Nigeria, Egypt, or South Africa, Djamo has carved out a niche in Francophone West Africa, specifically the Ivory Coast and…
Here are Africa’s biggest startups based on valuation
Last year, funding into African startups edged past $2 billion, returning to pre-pandemic levels and presenting a mixed bag as expected. Signs suggest 2025 will follow the cautious trends of the past two years. A sharp decline in mega-deals, mirroring …
Ex-Network International execs raise $6M for Enza, an African fintech serving banks
Over the past decade, Dubai-based Network International has become one of the dominant payment processors across the Middle East and Africa, thanks in part to a pair of acquisitions. However, many large incumbents can fall prey to slower innovation, op…
YC-backed food supply startup Vendease restructures employees’ salaries
Y Combinator-backed Nigerian food procurement startup Vendease has changed its employee pay structure and is seeking fresh capital, TechCrunch has learned. This is after laying off 44% of its workforce — around 120 employees —last month, marking its se…
Google, Speedinvest back Kenya’s Leta, which uses AI to make logistics cheaper
African businesses pay up to four times the global average to transport goods. Nairobi-based logistics SaaS provider Leta wants to change that.
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Gozem nets $30M to expand vehicle financing, digital banking in Francophone Africa
Since its launch in 2018 as a ride-hailing service in Togo, Gozem has steadily expanded across French-speaking West Africa, integrating a wide range of services as it sought to become a super-app. The company now offers ride-hailing, commerce, vehicle …
Kuda and CEO face allegations of sex discrimination and unfair dismissal from former executive, per filing
An employment tribunal case has placed Kuda Technologies, one of Africa’s fastest-growing digital banks, under scrutiny over allegations of workplace discrimination, harassment, and wrongful dismissal. Rosemary Hewat, Kuda’s former Group Chief People O…
Ghanaian fintech Affinity bags $8M to scale digital banking in a mobile money-driven market
Africa’s top digital banking platforms typically come from high-growth, populous markets like Nigeria, South Africa, and Egypt. But Affinity Africa, an upstart from Ghana, wants to join the conversation. The startup has raised $8 million in seed fundin…
QED leads $11M investment in Nigerian fintech Raenest
As Africa’s tech ecosystem booms, more local talent is landing remote jobs with Big Tech firms and global startups. But getting paid remains a challenge for many of these freelancers and remote workers. They struggle to open accounts that accept US dol…
Egypt’s Khazna banks $16M for its financial super app and expansion into Saudi
A large portion of Egypt’s population lacks access to traditional banking, forcing many to rely on cash transactions and informal lending. Khazna, a fintech startup founded in 2019, is tackling this issue by offering financial services tailored for low…
QED seeds $9.9M in Cedar Money, a stablecoin payment platform
The newest generation of startups aiming to solve cross-border payments are focusing on stablecoins — cryptocurrency coins often pegged to actual currencies or other commodities to help them keep stable prices — to build solutions that work…
Uber-backed mobility fintech Moove acquires Brazil’s Kovi, takes ARR to $275M
Uber-backed Moove, an Africa-born mobility fintech that offers vehicle financing to ride-hailing and delivery app drivers across six continents, has acquired Kovi, a Brazilian urban mobility provider. The value of the deal is not being disclosed, but M…
This fintech has a fix for the biggest cross-border payments issues in Francophone Africa
Until a few years ago, it used to be difficult to make payments across borders almost anywhere in the world. But it’s still a big problem in Africa, where fragmented, disconnected systems, high fees, and poor infrastructure make it tough for busi…
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